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  • Geebo 8:00 am on July 16, 2020 Permalink | Reply
    Tags: , , , cryptocurrency, , ,   

    Twitter hacked in major cryptocurrency scam 

    Twitter hacked in major cryptocurrency scam

    Yesterday, the accounts of some very high profile individuals were compromised in a cryptocurrency scam. Some of the names who had their Twitter accounts hacked include Elon Musk, Bill Gates, Warren Buffet, and Apple Computers just to name a few. As of the time of writing this post, it’s unknown how so many Twitter accounts belonging to so many celebrities and business magnates were hijacked.

    The phony tweets from the hijacked accounts promised that people could double their Bitcoin value if they just send it to a designated Bitcoin wallet. Many of the Tweets said that the poster was feeling generous and wanted to double people’s Bitcoin in support of COVID-19 efforts. By the time the bogus tweets were caught, scammers were able to collect at least $100,000 in cryptocurrency.

    While the level of complexity of this scam in unprecedented, the scam itself is not a new one. Crypto-scammers will often post links on social media promising to increase the value of someone’s cryptocurrency if they just send it to the person making the post. In reality, the scammer just takes the person’s cryptocurrency and disappears into the ether.

    You don’t even have to be a cryptocurrency speculator to fall for a very similar scam. If you’ve ever seen the hashtag #CashAppFridays you may know what we’re talking about.

    When the Cash App has one of its weekly giveaways, a number of scammers will use the hashtag with promises of giving people $500 if they give them $50 through Cash App. This is what’s called cash flipping and the Cash App users often find themselves out of the money they gave the scammer.

    These scams are akin to handing your money to a stranger on the street who promised you $50 for $5. Even if they claim to be financial giants like Elon Musk and Bill Gates, no one is giving away free money to random people on the internet. While many of the people hacked in this scam may be philanthropists, their donations generally go to charities and non-profits and not to random Twitter followers.

    (H/T: TechCrunch)

  • Geebo 8:00 am on June 10, 2020 Permalink | Reply
    Tags: , , cryptocurrency, , , , , , , ,   

    A new series of scams to look out for 

    A new series of scams to look out for

    Here are some new scams that we’ve found out about that are going on around the country. Please keep in mind that just because they are not currently happening in your area doesn’t mean that they can’t.

    Another victim has been scammed through the freelancer platform Upwork. In Pennsylvania, a woman had accepted an editing position that she had found on Upwork. She was sent a check for $2000 by her ’employer’ in order to buy equipment for her position. She was then instructed to send what wasn’t spent back to her employer through Venmo and gift cards. The $2000 check later turned out to be fraudulent. Upwork has said that you should not communicate with a client outside of the Upwork platform. If you receive a check in the mail and are asked to send a balance back through untraceable means like Venmo or gift cards, it’s almost a guarantee that the job is a scam.

    In Northern California, at least one resident has reported a new scam that had happened to them. They say they received a text message where a cybercriminal claimed that they had total control of the victim’s cell phone including the microphone and camera. The scammer then tried to extort $1500 in cryptocurrency out of the person they texted. The odds are very slim that your phone will be hijacked in this way. That’s also not taking into account that when you pay a purported blackmailer like this, they will continue to try and squeeze as much money out of you as possible. If you receive a text like this you are asked to report it to the Federal Trade Commission.

    Lastly, in Tulsa, Oklahoma man fell for a customer service scam that left him out of $1500. The man was having issues with his Cash App account. He called what he thought was Cash App’s customer service department but was actually a scammer. Before it was all over, the man’s Cash App account had been drained by the scammers. In this day and age of everything being online, not every company has a customer service number you can call. Often scammers take advantage of this by advertising phony customer service numbers. If you need to contact a company for customer service, go directly to that company’s website and look for a link that either says ‘contact us’ or ‘support’. Don’t just do a web search for ‘company x’s customer service number’ as there’s a good chance that number could be fake.

  • Geebo 8:00 am on April 16, 2020 Permalink | Reply
    Tags: , , cryptocurrency, , , ,   

    Federal agencies are warning about covid related scams 

    Federal agencies are warning about covid related scams

    With the current coronavirus pandemic showing no signs of subsiding any time soon, many experts in the field are saying that they’ve never seen so many scammers trying to take advantage of a calamity. In that vein, many federal agencies have issued warnings about scams that are related to the coronavirus/covid-19 pandemic. You can click the following link to see our previous posts about coronavirus scams.

    The Securities and Exchange Commission (SEC) is warning investors about companies that appear to be making false claims about coronavirus treatment and prevention. The SEC has already suspended 16 companies from trading stock over claims of coronavirus testing kits. The SEC is also warning about currently investing in penny stocks related to coronavirus treatment as these stocks can easily be overinflated in value by the company before being sold off in what’s known as a pump and dump scheme.

    The Secret Service is warning citizens about scams related to the economic impact payments. We’ve previously discussed many of these scams here. In addition to the scams we’ve previously discussed, the Secret Service is warning about any messages you may receive about the economic impact payment that contain phrases like ‘immediately’, ‘urgent’, or ‘do not tell anyone about this offer’. According to the Secret Service, these are red flags for scams. They also recommend possibly freezing your credit during the pandemic so no one can open any lines of credit in your name.

    Along these same financial lines, the FBI is expecting a sharp rise in cryptocurrency scams during the pandemic. These scams will essentially entail current scams such as work at home and charity scams but will be looking to cryptocurrency as the scammer’s method of laundering the money they take from their victims. The FBI also says to be wary of new cryptocurrency offerings and investments as scammers will just steal the money and hide it in other cryptocurrencies.

    During these times financial stability is a major concern among many of us. By keeping a cool head on your shoulders you can prevent these con artists from threatening the security that you’ve worked hard for.

  • Geebo 7:42 am on July 24, 2019 Permalink | Reply
    Tags: , cryptocurrency, , Libra coin,   

    Scammers have gotten out ahead of Libra’s launch! 

    Scammers have gotten out ahead of Libra’s launch!

    If you’re unfamiliar with cryptocurrency it’s essentially a form of digital currency that is not centralized through any bank or nation. Bitcoin is the most notorious of these cryptocurrencies. Since Bitcoin is decentralized its value has wildly fluctuated over the years. While there are those who have made a virtual fortune through trading BitCoin the cryptocurrency craze seems to be on a downswing as many competing cryptocurrencies looking to copy Bitcoin’s relative success have flooded the market. One of those cryptocurrencies is set to be launched by Facebook which they have dubbed Libra. While Libra is some time away from launching, that hasn’t stopped scammers from trying to take advantage of speculators by fraudulently using the Libra name.

    According to reports, a wave of scammers has gotten out ahead of Libra’s launch claiming to be official sellers of Libra. Unfortunately, Facebook’s own platforms such as Instagram, Messenger, and Facebook itself are being used to perpetrate these scams. However, in Facebook’s defense, these scams have also spread to Twitter, YouTube, and the web at large with a number of websites claiming to be affiliated with Libra. Some phony outlets are even claiming to give discounts on millions of Libra coins. As you’ve probably guessed, these scams are designed to only take your money and give you nothing in return.

    Investing in cryptocurrency is like investing in any other financial market. You should only do it if you can afford to lose the money you invest as not all investments turn into profits. That’s not even taking into account that Libra seems more like a way to spend money globally rather than an investment type of cryptocurrency. So if you’re actually interested in using Libra once it launches, you’ll have to wait until 2020 before you can purchase any. No matter what someone online tries to tell you.

  • Geebo 8:00 am on May 14, 2019 Permalink | Reply
    Tags: , cryptocurrency, Flexa, , SPEDN   

    Is cryptocurrency ready for retail? 

    Is cryptocurrency ready for retail?

    Even with its volatile fluctuations in value, it seems that cryptocurrencies such as Bitcoin are here to stay. It seems that cryptocurrency is no longer just the method of transaction on the dark web as it continues to gain more mainstream acceptance. Cryptocurrency enthusiasts have long dreamed of a day where they can use their Bitcoins or any other number of cryptocurrencies, to purchase everyday items such as their morning coffee or a pizza. That dream is now becoming a little bit closer to reality.

    15 retailers in America have signed up for an app called SPEDN that is said to allow users to spend their cryptocurrency in brick and mortar stores. Some of the retailers that will begin accepting cryptocurrency are Bed Bath and Beyond, Ulta, Barnes & Noble, Baskin Robbins, Crate & Barrel, Express, GameStop, Lowe’s, Nordstrom, and Regal Cinemas. SPEDN is attached to the Flexa global payments network.

    However, what remains to be seen is how these retailers will be able to keep their cryptocurrency stockpile secure. Retailers are not the most secure companies as a number of them have been subject to massive data breaches that exposed customers’ information. Since cryptocurrency has been known to be stolen through nefarious electronic means will consumers turn against cryptocurrency once a large amount of it has been stolen from one of these retailers? While a good idea in concept maybe cryptocurrency isn’t ready for retail just yet until the security aspect of it can be addressed.

  • Geebo 10:23 am on March 2, 2018 Permalink | Reply
    Tags: cryptocurrency, LeadInvest, Ruth Bader Ginsburg,   

    Texas cryptocurrency scam creeps up on craigslist 

    Texas cryptocurrency scam creeps up on craigslist

    Supreme Court Justice Ruth Bader Ginsburg

    For years it’s been debated whether or not cryptocurrencies such as Bitcoin are a worthwhile investment. Whether it’s due to the massive amount of power consumption needed to mine for cryptocurrency, its volatility in the current market, or its reputation for being the currency of choice in the trading of illegal goods on the internet, cryptocurrency has a less than stellar reputation among many investors. Now, the lure of easy money in the crypto market is being used to potentially scam investors out of their actual money.

    The Texas State Securities Board recently ordered a cease and desist order against a company called LeadInvest who claim to develop trading software for cryptocurrency. The reason for the C&D is because the company is allegedly misrepresenting itself by falsely claiming a number of famous people are on its management team like Supreme Court Justice Ruth Bader Ginsburg, among others.

    One of the reasons the state of Texas became involved was because LeadInvest was said to have flooded craigslist with ads for their services targeting residents of the Lone Star State. If you see a cryptocurrency ad on a less than reliable website like craigslist, think of it like those ads on daytime TV trying to sell you physical coins as an investment option. They’re usually not telling you something that’s in the fine print that shows you how worthless the investment really is. Even under normal circumstances, cryptocurrencies are a highly risky venture. If you decide to risk money on such an investment, always be aware of the inherent risks involved and never invest money you can’t afford to lose.

  • Geebo 10:00 am on December 12, 2017 Permalink | Reply
    Tags: , cryptocurrency, wallets   

    Beware of fake cryptocurrency wallet apps 

    Beware of fake cryptocurrency wallet apps

    Cryptocurrenices like Bitcoin have been in the news a lot lately. From its volatile increase in value, to people becoming Bitcoin billionaires, to millions being lost in hacks and theft, to people mortgaging their homes in order to buy into Bitcoin have been hogging the headlines for the past few weeks. With cryptocurrency popularity at an all time high, it should come as no surprise that some people are looking to make money off of the cryptocurrency craze in some not so legitimate ways.

    Much like real currency, or analog currency if you will, cryptocurrency needs a place where it can be stored safely and securely. These exchanges or clients are often referred to as wallets.

    Recently, some people have been listing phony wallet apps on the various app stores that appear to be connected to certain cryptocurrencies, but are not official apps. These apps could compromise your personal information including the private keys to your wallet which could result in the loss of your cryptocurrency.

    If you’re looking for a crpytocurrency wallet app don’t go to the app store first. Instead go to the official website of the cryptocurrency exchange of your choice. There, they should have a link to their official app where you then can download it. This goes for many banking and financial apps as well. Don’t trust the app stores to provide the official apps when so many knock off apps exist.

  • Geebo 10:19 am on December 8, 2017 Permalink | Reply
    Tags: , , cryptocurrency   

    Is crytptocurrency the future of classifieds? 

    Is crytptocurrency the future of classifieds?

    Cryptocurrency Bitcoin has been in the news a lot lately. Mostly because since the beginning 2017 it has increased in value from $1,000 to a record high of $17,000 with many people and experts saying that a crash is inevitable. Either way, cryptocurrencies seem like there here to stay. While they haven’t been universally adopted yet as an online payment method one classifieds site has made it easier for their users to accept cryptocurrency.

    Craigslist recently, and quietly, added an option to their ads where sellers can say they’re ok with being paid in cryptocurrency. While many see this as an advance in technology, it can also be seen as yet one more avenue into fraud. Bitcoin exchanges and wallets are susceptible to hacking and there have been several stories in the news where millions of dollars in Bitcoin have been stolen. If these hackers use stolen Bitcoins through craigslist that can almost be seen as a form of money laundering.

    That’s not even taking into account that Bitcoin seems to go against one of craigslist’s core values. Craigslist tries to tout itself as being socially responsible yet the mining of Bitcoins uses so much power that the energy needed to generate one Bitcoin could power nine US homes for a day.

    While it seems craigslist has been bitten by the Bitcoin bug, stick with cash and also use a classifieds site that isn’t filled with a plethora of fraudulent ads.

  • Geebo 9:06 am on September 26, 2017 Permalink | Reply
    Tags: cryptocurrency,   

    Websites may be using your computer to mine for cryptocurrency 

    Websites may be using your computer to mine for cryptocurrency

    Advertising and the internet have a contentious relationship to say the least. While advertising is where the majority of content creators make their money, there are many drawbacks to taking in advertiser money. Many advertising programs, like Google’s Adsense, seem to have arbitrary policies that see some creators penalized while others do not for providing similar content. Not to mention that one only need to look at YouTube’s recent adverting restrictions that users have referred to the as the ‘Adpocalypse’ to see advertisement money can disappear at a moment’s notice. With those dollars disappearing, a number of content creators have turned to cryptocurrency mining.

    It was discovered recently that a number of websites owned by television network CBS, had code injected into their websites that ‘borrowed’ processing power from viewers’ computers in order to help mine concurrency for someone. In this instance, it was reported to be the cryptocurrency Moreno. It’s viewed as a more private alternative to the more popular Bitcoin. While the injection of code into CBS’ websites may have been perpetrated by a bad actor, that hasn’t stopped some websites from using such code on unsuspecting users. Mining cryptocurrencies requires massive amounts of computing power, so it should come as no surprise that some less than legitimate websites have begun using this tactic.

    Not all hope is lost though. There are ways to protect your computer from having its computing power leeched for the benefit of someone else. Many of the popular browsers have extensions that will block mining code. A number of the most used ad blockers already block the coin code and a search for coin blocker should turn up a few more.

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